Hi Za1n,
Thanks for that. You've just answers one of my on going questions.
Thing i don't get, is say 1 find an old wallet, no active nodes, but it's being traded on say 2 exchanges.
I know exchanges sometimes publish connected nodes, but why don't they publish their wallet node. If they did, then it wouldn't matter about any other nodes as such, because you would then always be mining on the active chain.
That would mean old coins could still live even if there was literally only 1 miner, and if / when more came along, you'd still all be on the same chain as the exchange, which in the end is kinda the only thing that matters i think.
J
Topic: Mining dead coins? (Read 688 times)
The biggest danger I would see if if someone else is mining the so called dead coin and you just are not able to find the active nodes. If the seed nodes are down or out of date you and three other private groups could be mining the same coin all on essentially separate chains. When and if you were to try and sync these chains up yours might no be the longest and all your effort is wasted.
Normally people who want to resurrect a dead coin take over its management and start by making a posting here informing the public of your intentions. You then either take over the original website of if that is not possible start a new one. You will also need to run some full-time seed nodes where others can sync up with the new chain that you are mining to. You will also need to either take over (if you can find the original developer) the coins codebase or create a fork on GitHub as you will need to maintain it going forward.
Normally people who want to resurrect a dead coin take over its management and start by making a posting here informing the public of your intentions. You then either take over the original website of if that is not possible start a new one. You will also need to run some full-time seed nodes where others can sync up with the new chain that you are mining to. You will also need to either take over (if you can find the original developer) the coins codebase or create a fork on GitHub as you will need to maintain it going forward.
If people are still mining it, it ain't dead.
I mine sloth regularly, and trade it
Biggest prob with old coins is 1) Finding wallet, 2) syncing wallet, 3) finding a live exchange, also most exchanges that had it already de-listed it years ago, and really dont want to have it back.
Best thing to do with old coins is to mine them really really gently, never with more than 30-35% of total network hash (or u either kill it, or are just competing against yourself and the block time), and do it real discrete, slowly let it gain some traction, problem is, if an idiot jumps in, hits it with 10-100 x total hash, which is easily done with asics etc, then it forks all over the place, then exchanges will never touch it, and we lose another great old coin. I mine some coins at less than 4kh/s on scrypt, and 250kh/s x11....take a mo and look at those figures, and i'm getting coins along with the other miners all day. This way i can be mining 20-30 old coins all day every day, on a couple of old gpus. I mined 1 mil of 1 old coin in 3 weeks, never getting above intensity of 10 (8-25) and hash around 1Mh, x11
So, steady away, and have fun, and if ure lucky u'll mine 1000's of coins and hopefully they will be worth something oneday
*old skool*
J
I mine sloth regularly, and trade it
Biggest prob with old coins is 1) Finding wallet, 2) syncing wallet, 3) finding a live exchange, also most exchanges that had it already de-listed it years ago, and really dont want to have it back.
Best thing to do with old coins is to mine them really really gently, never with more than 30-35% of total network hash (or u either kill it, or are just competing against yourself and the block time), and do it real discrete, slowly let it gain some traction, problem is, if an idiot jumps in, hits it with 10-100 x total hash, which is easily done with asics etc, then it forks all over the place, then exchanges will never touch it, and we lose another great old coin. I mine some coins at less than 4kh/s on scrypt, and 250kh/s x11....take a mo and look at those figures, and i'm getting coins along with the other miners all day. This way i can be mining 20-30 old coins all day every day, on a couple of old gpus. I mined 1 mil of 1 old coin in 3 weeks, never getting above intensity of 10 (8-25) and hash around 1Mh, x11
So, steady away, and have fun, and if ure lucky u'll mine 1000's of coins and hopefully they will be worth something oneday
*old skool*
J
Could you set up 2 nodes for a dead coin and potentially guarentee that you get the block reward for anything still floating in cyber space. like say slothcoins for example. No network node but some people still try to transfer or sell. Still has some old buy orders. Might be a good purpose for old equipment that I can't use now. Any thoughts?
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